Gold back to 1242 on Stronger U.S. Equities

Gold retreated for a second session on Wednesday, moving further away from a one-month high, as a rally in stock markets prompted by strong U.S. retail sales data dented the metal’s appeal as a safe haven.

Spot gold eased 0.1 percent to $1,243.19 an ounce by 0011 GMT. It touched a one-month peak of $1,255 early on Tuesday before ending the day 0.7 percent lower.

U.S. retail sales edged up in December with a core spending gauge posting a big jump, a sign the economy gathered steam at the end of last year and was poised for stronger growth in 2014.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.